Advertising revenue for the NYT Co.'s New England Media Group--which includes the Globe and the Worcester T&G--dropped nearly 32 percent in the first quarter of 2009 compared to the same period in 2008.

By way of comparison, the New York Times Media Group's ad revenue fell about 27 percent. Which is pretty bad too, and will only increase the Times Co.

The New York Times Co. didn't have such a hot third quarter, period--but the company seems especially down on the New England Media Group, which includes the Boston Globe and the Worcester Telegram & Gazette. From Bloomberg:

The publisher plans to write down the value of its New
England newspapers, including the Boston Globe, by as much as
$150 million.